Sallyport Commercial Finance Announces $2,100,000 in Financing for Commercial Laundry Services

Sallyport announced it provided a $2,100,000 combined accounts receivable and equipment financing that will enable a hospitality services supplier to make a crucial acquisition, cover their payroll costs and free up working capital to invest into new equipment.

The client was referred to Sallyport via another client and Sallyport was able to successfully convey the value of its services and its willingness to come up with a tailored solution that worked for their business.

The financing consists of $1.75 million in accounts receivable funding and $350,000 in equipment finance. This will lay the foundation for the client to achieve their long-term goals of further expansion and acquisition coast-to-coast in the US.

Nick Hart, Sallyport President commented: "After an extremely challenging time in the laundry sector, we were delighted to help our client make a key business acquisition. We will be there, by their side to help with the opportunities and challenges presented in 2022 and beyond. We look forward to seeing them grow and thrive through our partnership."

Sallyport Commercial Finance is an independently owned and operated specialty finance company focused on providing entrepreneurs with working capital solutions for small to medium sized businesses, to help drive growth and achieve business hopes and dreams. Sallyport Commercial Finance offers a full suite of factoring and asset based products including Accounts Receivable Finance, Purchase Order Finance, Equipment and Inventory Finance, Cash Flow Loans, and Real Estate Loans. Very experienced in all industries, our current portfolio includes businesses in Staffing, Energy, Food & Beverage, Apparel, Manufacturing, Service Industry, Transportation, Government Receivables, and IT.